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Minnova Corp. Announces Option Agreement to Acquire 100% Interest in La Esperanza Gold Property Located in the Historic Gold Mining Pullo District of Peru
Toronto, Ontario--(Newsfile Corp. - October 15, 2018) - Minnova Corp. (TSXV: MCI) (OTC: AGRDF)...
About this update from Minnova Corp.
[{"type":"text","content":"Minnova Corp. Announces Option Agreement to Acquire 100% Interest in La Esperanza Gold Property Located in the Historic Gold Mining Pullo District of PeruToronto, Ontario--(Newsfile Corp. - October 15, 2018) - Minnova Corp. (TSXV: MCI) (OTC: AGRDF) (\"Minnova\" or the \"Company\"), an advanced-stage mining exploration and gold development company, is pleased to announce it has entered into an option agreement with Inkarri Comercializadora Perú S.A.C., a regional toll mill operator in Peru, to acquire a 100% interest in the Media Quebrada mining concession and adjacent claim, collectively called the La Esperanza Gold Property. The agreement is subject to TSX Venture Exchange approval.Highlights from due diligence mapping and surface and underground chip and grab sampling include;Spanish era workings and production386 m of historic underground workings on 3 levels32.7 g/t Au in 0.15 m surface chip sample26.4 g/t Au in 1.00 m surface chip sample17.1 g/t Au in 1.00 m surface chip sample4.7 g/t underground grab sample1.9 g/t Au in 0.50 m underground chip sampleThe La Esperanza Property can be accessed year-round by four wheel drive vehicle and is located approximately 46 km northeast of the coastal town of Chala in south central Peru. It is comprised of 2 contiguous concessions covering an area of 7 square kilometres at elevations between 2,350 m and 3,250 m ASL.The property hosts two distinct epithermal-style Au-Ag-Cu mineralized structures, the Poderosa and La Esperanza structures which can be traced in surface exposures over 2.5 kilometres. The Poderosa structure consists of a series of 1 to 3 meter wide, shear zone hosted fault-fill quartz veins at the eastern edge of the property. La Esperanza structure is 1 to 3 meters wide, characterized by vuggy quartz veins and strong phyllic alteration hosted in a steeply dipping, north-northwest striking shear zone. A plagioclase-phyric diorite dyke was observed to be associated with La Esperanza structure, indicating that magma utilized the existing structural zones during intrusion.Au-mineralisation at La Esperanza was originally discovered and mined on a small scale by the colonial Spanish over 200 years ago. The Pullo gold district hosts dozens of small scale, high grade mining operations supplying ore to several toll mills in the area. Daily ore production in the district is esti...